Russian Company Telecor Announces Construction of Data and Mining Centre Redstone, with Operations Set to Commence in June 2019

Bitcoin Press Release: New Russian-based data and mining centre Redstone has announced that it has nearly finished its construction and will begin operations in June, 2019.

December 10th 2018, Krasnokamensk, Russia – New data and mining centre, Redstone is currently under construction in the Russian city of Krasnokamensk. Redstone will become a new home for digital currency miners from China, Russia and around the world. Redstone offers its clients the benefit of a convenient location, cheap electricity, perfect climate (avg. annual temp is 2°C) and accessible water for cooling.

Redstone is presently being constructed and will soon be operated by Telecor, a large Russian engineering company. For the last 15 years, Telecor completed over 500 projects in engineering, automation, IT, and telecommunications including modernisation/reconstruction of power grids and thermal power plants.

The key feature of Redstone is the power-generation capacity of 50MW (under Phase 1) that will be built on its own off-the-grid generator base providing reliable energy source. Redstone is located at the premises of non-nuclear thermal power plant operating by Rosatom – partner of the project, a State Nuclear Energy Corporation. Telecom network is provided by Rostelecom, the largest digital services provider in Russia

Redstone location provides good and stable quality of internet connectivity that can handle heavy loads of a data centre of such scale. Proximity to the Chinese border and Manchuria’s airport make Redstone an accessible destination for new equipment deliveries from China and minimize overall logistics costs in general.

CEO of Telecor, Andrew Chernoknizhnikov had these words to say about fixed service prices:

“Amid predictions about constant increase in electricity prices, Telecor is able to fix service prices provided at Redstone for the next 10 years, it is an important and valuable benefit for our customers.”

Andrew continues:

“Due to low costs and own energy generation at Redstone, which are for sure some of the most important benefits of this site, our company could offer very low prices, probably the lowest, not only in Russia but throughout the world.”

Authorities are interested in economic development and job creation at Krasnokamensk. The city is ready to help and already working to facilitate Redstone development. The reliable and transparent legal structure of the project is another guarantee of long-term stability for Redstone clients.

Initial project financing comes from Telecor, and active phase of construction will begin in December 2018 after the completion of design work. Phase 1 of Redstone (50MW) will be move-in ready in May of 2019.

Telecor is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.